BREAKING: US industrial production fell below expectations 📌

US industrial production data for October:

Industrial Production MoM Actual -0.6% (Forecast -0.4%, Previous 0.3%)
Capacity Utilization Actual 78.9% (Forecast 79.4%, Previous 79.7%)

Industrial production declined 0.6 percent in October. Manufacturing output fell 0.7 percent. Much of this decline was due to a 10 percent drop in the output of motor vehicles and parts that was affected by strikes at several major manufacturers of motor vehicles. The output of major market groups was mixed in October, with the drop in motor vehicles and parts output exerting downward pressure on a number of categories. The published data confirms the Fed's halting of interest rate hikes as the US economy slows.

source: xStation 5

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